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Share repurchase programme 2021

On 27 September 2021, Intertrust announced the start of its programme to repurchase ordinary shares in its capital for a total aggregate consideration of up to EUR 100 million.

A portion of the repurchased shares will be used for existing employee stock ownership plans which will vest in 2022, 2023 and 2024. The remainder of the repurchased shares are intended to be cancelled after approval by the general meeting of shareholders.

As announced on Friday 12 November 2021, the share buyback programme has been suspended until further notice.

See further details below.

Daily transaction details

Click here to view the daily transaction details (Excel file).

Weekly Summary

Period Total shares repurchased Average purchase price Total consideration Press release
08 – 11 Nov 2021 63,385 12.6305 800,581.63 Link
05 – 11 Nov 2021 82,827 €12.7274 1,054,172.38 Link
25 – 29 Oct 2021
77,242 €13.2070 €1,020,135.22 Link
18 – 22 Oct 2021 74,217 13.6594 1,013,762.42 Link
11 – 15 Oct 2021 78,500 €13.7102 1,076,248.80 Link
04 – 08 Oct 2021 73,515 13.6106 €1,000,585.30 Link
28 Sept – 01 Oct 2021 62,540 €13.1023 €819,419.58 Link

Additional information

Intertrust has engaged an independent broker to execute the repurchase transactions on its behalf. The ordinary shares are being repurchased at a price that does not exceed the lower of (1) a maximum of 110% of the average of the highest quoted price per share on the last five consecutive trading days immediately preceding the date of repurchase, according to the Official Price List of Euronext Amsterdam and (2) the threshold stipulated by Article 3(2) of Commission Delegated Regulation (EU) 2016/1052. The share repurchase will be funded from Intertrust’s available cash resources.

The share buyback programme will be implemented within the limitations of the authority granted to the Management Board by the Annual General Meeting of Shareholders, which authorised the Management Board to purchase up to 10% of Intertrust’s issued share capital per 14 May 2021, for a period of 18 months starting 14 May 2021 and ending 14 November 2022. The Supervisory Board has approved the share buyback programme on 26 September 2021. If and to the extent required, further shareholders’ approval will be requested as referred to in Section 2:98 paragraph 4 of the Dutch Civil Code. The share repurchase programme will be conducted in accordance with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 and within the safe harbour parameters for repurchase programmes.